Which of the following is TRUE of M2?
A. It excludes savings deposits.
B. It does not include highly liquid components of the money supply.
C. It includes credit limits for credit card transactions.
D. It is larger than M1.
Answer: D
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Refer to Cost of Production. The short-run average cost of producing 50 units of output per week is
The following questions refer to the diagram below. The wage rate is assumed to be $12 per hour, the rental rate is assumed to be $6 per hour, and capital is assumed to be fixed in the short run at 10 hours.
a. $3 per unit.
b. $3.60 per unit.
c. $5 per unit.
d. $2.77 per unit.
Refer to the table below. Busy Betty sells her cakes for $20 each and her constant marginal cost to produce each cake is $12, which is equal to her (constant) average total cost. If she does not sell a cake the day she makes it, she sells it as day-old cake for $10. What is her expected marginal cost of holding the 23rd cake in inventory?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) $6.60
B) $0.40
C) $1.20
D) $2.00
A mechanism for reallocating risk is:
A. risk pooling. B. dividend pooling. C. risk premiums. D. None of these statements is true.
Suppose Johnny Stroller sells 12, 25, and 75 year-old scotch in under black, red, and blue labels. Suppose the storage costs are zero and the initial production costs are the same. What is the implied (approximate) interest rate if black sells for $12, red for $16 and blue for $44
a. 2 b. 5 c. 8 d. 10